Sound View Wealth Advisors Group LLC Has $19.27 Million Stock Holdings in Broadcom Inc. $AVGO

Sound View Wealth Advisors Group LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 9.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,407 shares of the semiconductor manufacturer’s stock after selling 5,930 shares during the period. Broadcom comprises 1.3% of Sound View Wealth Advisors Group LLC’s portfolio, making the stock its 17th biggest holding. Sound View Wealth Advisors Group LLC’s holdings in Broadcom were worth $19,269,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. JCIC Asset Management Inc. acquired a new stake in shares of Broadcom in the 3rd quarter valued at $31,000. Longfellow Investment Management Co. LLC bought a new position in Broadcom during the 2nd quarter valued at about $27,000. Teachers Insurance & Annuity Association of America bought a new position in Broadcom during the 2nd quarter valued at about $28,000. Manning & Napier Advisors LLC acquired a new position in Broadcom in the third quarter valued at about $34,000. Finally, LGT Financial Advisors LLC bought a new stake in Broadcom during the second quarter worth about $31,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 320,316 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $400.53, for a total value of $128,296,167.48. Following the completion of the sale, the director owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 130,000 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the completion of the sale, the chief executive officer owned 595,638 shares of the company’s stock, valued at approximately $194,189,900.76. This represents a 17.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 779,101 shares of company stock worth $283,804,325 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AVGO shares. Rosenblatt Securities lifted their target price on shares of Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Bank of America lifted their price objective on Broadcom from $460.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Deutsche Bank Aktiengesellschaft set a $430.00 target price on Broadcom and gave the stock a “buy” rating in a report on Friday, December 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadcom in a research report on Monday, December 29th. Finally, Wells Fargo & Company raised shares of Broadcom from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $410.00 to $430.00 in a report on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $433.13.

Get Our Latest Stock Analysis on AVGO

Broadcom Stock Down 0.7%

Shares of NASDAQ AVGO opened at $330.34 on Tuesday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The firm’s 50-day moving average is $337.11 and its 200-day moving average is $342.27. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1.57 trillion, a PE ratio of 69.40, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The firm had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period last year, the firm earned $1.42 earnings per share. Equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s payout ratio is currently 54.62%.

Broadcom Company Profile

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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